BlackSky Technology (NYSE:BKSY) Shares Up 6.4% - Still a Buy?

Key Points

• Shares jumped 6.4% to $32.92 on Tuesday, trading about 1.24M shares (22% below average), and are well above their 50‑day ($23.79) and 200‑day ($22.20) moving averages with a market cap of $1.24B.
• Wall Street ratings are mixed but lean positive — the consensus is a “Moderate Buy” (five Buys, one Sell) with an average price target of $27.40, which is below the current share price and reflects wide analyst disagreement.
• In its latest quarter BlackSky reported EPS of ($0.19), beating estimates by $0.06 while revenue of $35.2M missed expectations, and the company remains unprofitable with a negative net margin (~66%) and negative ROE (~54%).

BlackSky Technology Inc. (NYSE:BKSY - Get Free Report)'s stock price shot up 6.4% during trading on Tuesday . The stock traded as high as $32.82 and last traded at $32.9190. 1,239,906 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 1,580,924 shares. The stock had previously closed at $30.93.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BKSY. Canaccord Genuity Group dropped their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, February 27th. HC Wainwright reissued a "buy" rating and issued a $42.00 price objective on shares of BlackSky Technology in a research note on Friday, February 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of BlackSky Technology in a research note on Wednesday, January 21st. Wall Street Zen raised shares of BlackSky Technology from a "strong sell" rating to a "hold" rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on shares of BlackSky Technology in a research note on Monday, December 22nd. They issued a "buy" rating and a $23.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BlackSky Technology has an average rating of "Moderate Buy" and an average price target of $27.40.

BlackSky Technology Price Performance

The company's 50 day moving average price is $23.79 and its 200-day moving average price is $22.20. The stock has a market cap of $1.24 billion, a P/E ratio of -15.57 and a beta of 2.25. The company has a quick ratio of 3.37, a current ratio of 3.48 and a debt-to-equity ratio of 2.04.

BlackSky Technology (NYSE:BKSY - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. The firm had revenue of $35.21 million during the quarter, compared to the consensus estimate of $37.13 million. BlackSky Technology had a negative net margin of 65.93% and a negative return on equity of 53.94%. As a group, sell-side analysts expect that BlackSky Technology Inc. will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

Several large investors have recently modified their holdings of BKSY. AQR Capital Management LLC acquired a new stake in shares of BlackSky Technology during the first quarter worth $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BlackSky Technology by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,174 shares of the company's stock worth $117,000 after buying an additional 1,015 shares during the period. Goldman Sachs Group Inc. increased its position in shares of BlackSky Technology by 343.7% during the first quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company's stock worth $4,311,000 after buying an additional 432,023 shares during the period. Legal & General Group Plc increased its position in shares of BlackSky Technology by 40.5% during the second quarter. Legal & General Group Plc now owns 3,118 shares of the company's stock worth $64,000 after buying an additional 899 shares during the period. Finally, Rhumbline Advisers increased its position in shares of BlackSky Technology by 11.1% during the second quarter. Rhumbline Advisers now owns 39,229 shares of the company's stock worth $807,000 after buying an additional 3,934 shares during the period. Institutional investors own 27.15% of the company's stock.

About BlackSky Technology

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.

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